Gamblng license required??

[fishingfiend]

What is the name of your state (only U.S. law)? Ohio

I am organizing a fishing tournament in Michigan and there will be cash prizes of over $5000.00 for the winners.

The contestants will pay $500.00 each to participate, and there will be extra side prizes offered, based on what each contestant wants to win.

There will also be side 'bets' which will be paid for separately by the contestants.

My question is will I need to get some kind of gambling license from the State of Michigan in order to offer these prizes, as they are considered bets.

Will I also have to inform the RS of the prizes given?

Thank you

 

[FlyingRon]

The side bets "money taken on an event where the results are uncertain" (i.e., betting on sporting outcome) is illegal in Michigan PERIOD and you won't get a license for it.